On NCDEX settled down by -0.74% at 2945 on profit booking after prices seen supported on lower arrivals in the local mandis. Arrivals in the local mandis dropped due to local festival. Soybean arrivals in India totalled at 50,000 bags as compared to 75,000 bags. Lower supply of soybean was mainly due to holiday and farmer's engagement with wheat harvest and its marketing. Brazil’s 2016/17 soybean crop harvesting is 74% complete of the area planted, the figure is above 5 year average of 70% but below 76% harvested in the corresponding period last year, said AgRural. The weather is favourable for harvest and it is at full swing.

Trading Ideas: 

* Soyabean trading range for the day is 2920-2988. 

* Soyabean prices ended with losses on profit booking after prices seen supported on lower arrivals in the local mandis. 

* Soybean arrivals in India totalled at 50,000 bags as compared to 75,000 bags. 

* NCDEX accredited warehouses soyabean stocks dropped by 882 tonnes to 188426 tonnes. 

* At the Indore spot market in top producer MP, soybean gained 18 Rupees to 3049 Rupees per 100 kgs.

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